The United Arab Emirates (UAE) is seen as the most active nation in the Middle East (ME) in the first half of 2014 in terms of debt capital market activity in 2014, reported Emirates 24/7 quoting Thomson Reuters' quarterly investment banking analysis for the Middle East region.
The report, published on Monday, revealed that the UAE accounts for 55% of activity followed by Saudi Arabia with 28%.
"Dragged down by a slow first quarter, bonds issued [in the Middle East] during the first half of 2014 fell 16% from the same period last year, to $22 billion," said Nadim Najjar, Managing Director, Middle East & North Africa, Thomson Reuters, adding that investment grade corporate debt hit $16.4 billion and accounted for 90% of the H1 total.
International Islamic debt issuance fell 17% year-on-year to reach $14.1 billion, the lowest H1 total since 2011. Moreover, HSBC topped the Middle Eastern bond ranking during H1-14 with a 14% market share, revealed to the analysis.
The report, published on Monday, revealed that the UAE accounts for 55% of activity followed by Saudi Arabia with 28%.
"Dragged down by a slow first quarter, bonds issued [in the Middle East] during the first half of 2014 fell 16% from the same period last year, to $22 billion," said Nadim Najjar, Managing Director, Middle East & North Africa, Thomson Reuters, adding that investment grade corporate debt hit $16.4 billion and accounted for 90% of the H1 total.
International Islamic debt issuance fell 17% year-on-year to reach $14.1 billion, the lowest H1 total since 2011. Moreover, HSBC topped the Middle Eastern bond ranking during H1-14 with a 14% market share, revealed to the analysis.
Source:
Mubasher
